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danger of going off the fiscal cliff. >> we are not going to kick the can down the road. we're going to finalize this this year. this is no time for delay. the american people want us to avoid the fiscal cliff with a balanced approach. liz: he said, he said. good afternoon, everybody. i am liz claman, "countdown to the closing bell" starts right now. you heard it from the horses mouth. and it has gyrated the market. john boehner said no substantial progress on fiscal cliff debt deal while harry reid insists we democrats are on track and will finalize it this year. even chuck schumer weighed in saying progress is being made on the hill and the next is a taste oversensitive. take a look at the intraday, you can see how it was jerked around today. right around 11:30 a.m., speaker john maye -- john boehner spoke. the buyers poured in, the short time later chuck schumer came in. now we are trading near the highs of the day. the dow jones dust they stop 77 points, 45 to the upside. all 10 s. and p. sectors are jumping with technologies leading the way. research in motion a big winner. can
cliff. white house negotiators head to capitol hill today. they're going to sit down with congressional leaders and talk about specific proposals from both sides for an agreement to avoid the fiscal cliff. nbc's tracie potts joins from us washington with those details. tracie, good morning. >> reporter: lynn, good morning. so, it may be no deal today, but perhaps moving forward on these spending cuts and tax increases that are looming at the end of the year. some very specific meetings with a handful of lawmakers who could have a huge impact on your paycheck come january 1st. . treasury secretary tim geithner and white house legislative chief rob neighbors bring the president's deficit-cutting plan to capitol hill today. >> i am very open to a fair and balanced approach to reduce our deficit. >> reporter: republicans want to know, does that approach include the government spending less money? >> we've put revenue on the table, as long as it's accompanied by serious spending cuts. >> reporter: white house negotiators are meeting with boehner and top republicans and democrats. executives
talk of avoiding the much-discussed fiscal cliff. but as november wound down, the president suggested an agreement on taxes and spending could come in time for the holidays. >> i believe that both parties can agree on a frame work that does that in the coming weeks. in fact my hope is to get this done before christmas. >> you know me, i was born with the glass half full. i'm an optimist. >> brown: hopeful signs emanated from the white house and the capitol today, about getting a deal before the new year brings automatic tax hikes and spending cuts. president obama offered his optimism at an event with middle-class americans who'd be hit by any tax increase. >> i'm glad to see-- if you've been reading the papers lately-- - that more and more republicans in congress seem to be agreeing with this idea that we should have a balanced approach. so if both parties agree we should not raise taxes on middle class families, let's begin our work with where we agree. >> brown: one such lawmaker is republican house member tom cole of oklahoma. the journal "politico" reported he's urging colleagues
today to persuade president obama and congress to avoid the fiscal cliff. with just 33 days left to nail down a deal, c.e.o.s made the rounds to explain to lawmakers that because of cliff gridlock, they're holding back on hiring and spending. as darren gersh reports, c.e.o.s weren't the only ones campaigning hard today. >> reporter: the president and republicans focused today on staging events designed to pressure the other side. the president called on americans to tweet, facebook and call members of congress to tell them to pass tax cuts for everyone making less that $250,000 a year. >> 97% of small businesses would not see their income tax go up by a single dime. even the wealthiest americans would still get a tax cut on the first $250,000 of their income. >> reporter: the speaker dismissed a call from a fellow republican to give the president what he wants, saying it's not good economics to raise tax rates on small businesses. >> going over the fiscal cliff will hurt our economy and hurt job creation in our country. this is not good for our country. it's as simple as that, and the pr
on on capitol hill over the fiscal cliff. treasury secretary timothy geithner sitting down with the top leaders in congress and in the senate, they are discussing what needs to be done to reduce the deficit and maybe how much flexibility there could be on either side. the deal is to avoid a series of tax increases, and spending cuts that many believe would be a fiscal cliff that would kick in on january the 1st. chief congressional correspondent mike emanuel is watching it all unfold on capitol hill. what do we know about the visit about the expectations for what might happen during it. >> reporter: martha, timothy geithner arrived here on capitol hill a short time ago to meet first with senate majority leader harry reid. we know he's having individual meetings with the top four leaders of congress. what republicans have said they want to hear, and republicans will be critical, because they need republican support to get any final fiscal cliff deal through the senate, and also through the house, they say they hope that he's coming with concrete spending cut ideas that are acceptable to the admi
that are going back and forth as we count down to the fiscal cliff here. joining me now from new orleans is melissa harris perry. you got to hear all that. so first off, he regarded the conversation that he had with the president last night as a very nice conversation, direct and straightforward. it's been reported throughout the morning that it was more of a curt conversation. but it seems as if with the president going into this discussion, he holds all the cards and all the lemverage, bu it doesn't seem john boehner is willing to meet in the middle here. he said i'm not going to get into the details. why not tell us the details what have they want? >> i think because of what you just said. because as a matter of politics in fact hold the cards here. it's more than just sort that he has the ability to go over the fiscal cliff, allow sort of the 113th congress to convene. that congress will certainly continue to have a republican majority but also a greater influence of the democratic party, and a lesser influence of the tea party coalition within the republican party, and once that 113
cliff. like i said, it went down in the early going but ended up surging up 107 to almost 13,000. and one analyst put it markets are starting to lean toward some sort of agreement. meanwhile the fed reports that a rise in consumer spending and really steady home sales helped boost economic growth from october through early november in most of the country. the exception being the northeast in the wake of super storm sandy. the fox business network peter barnes with the news from the when you say tonight. what else do not feds see in the economy, peter. empleghts overall the feds saw the economy growing at a measured pace in recent weeks but it said that some business context said that they were worried about uncertainty over the battle of the fiscal cliff in washington. that concern might be showing up in the manufacturing sector. the feds said that in some places around the country, manufacturing was slowing down and actually contracting outright. but it said that hiring was up modestly most places and with the holidays coming up. it said that the outlook for retail sales was
do go over the fiscal cliff that will take the whole market down, so you put this on a shopping list that could give you a terrific entry point. i think the cycle is so darn strong, it can trump the ills of the fiscal cliff, at least once it's sorted out. ultimately the cliff will be sorted out. of the three housing-related ipos, you need to be careful with zillow and trulia, the only one i will endorse is real ogy, and only if it comes down. how about michael in california, please? michael. >> caller: boo-yah to you, jim. with a solid dividend that pays monthly at almost a 16% yield, the current valuation a dollar benine book value, isn't a.r.r. a great value? >> you know what? i have thought it was. this is another one of those real estate mortgages reits, that i have somewhat been mystified about the price performance. someone asked about this on the street, and i said i think it should be doing better. i agree, i think it's an okay buy. john in oregon, please. >> caller: boo-yah, jimmy, how are you? >> boo-yah back at you. >> caller: residential 4078 builders, i bought in about s
%. wall street got a boost from the fiscal cliff talks. dow added 106 points after being down triple digits earlier in the day. nasdaq gained 23 points. the u.s. economy is growing at a steady pace according to the latest report from the federal reserve. the so-called beige book survey shows a pickup in consumer spending and home sales in october and early november. economic growth improved in nine of the 12 federal reserve districts but superstorm sandy hampered growth in the northeast. could the dollar bill be going the way of the doo-doo. a congressional panel is once again calling for the u.s. to stop printing singles and switch entirely to dollar coins. the nonpartisan panel believes it could save taxpayers money. it's more expensive to produce coins but they last about six times longer than paper bills. and you'll need some extra coins to buy starbucks latest. the coffee king is selling a new brew that will set you back $7 for a grande cup. it's made from a rare been grown in costa rica. if you want to brew a cup at home, a bag of the new coffee will cost $40. that will keep me
said the generators but these companies are not-- let's also wrapping up to talk about the fiscal cliff. the president is trying to hammer things down. there was a slight bump in the markets because a was a slight bit of optimistic. >> companies are still doing things trying to prevent a loss. >> gm is the one absolutely nothing. this tells you that we're not all the same page. if everyone is saying what is true that a deal should get done. he is one of the people that people do not know the wall street do know him. >> some companies are paying out dividends early in anticipation that a deal may not be done. >> the famous one as wal- mart but we did see that disney is starting to pour their dividends. this gives us extra for the shareholders. this would be a good tax refund. i the clock is ticking and we have 33 days until the clift. we love numbers. if we can do it countdown will do with the this is the latest. >> hopefully they can get a deal done. >> lindsay lohan was arrested a gang for fighting. here she is she was released from jail this morning. she has a black jacket covering he
-day losing streak, will it hold onto the gains? talking guy fiscal cliff deal. lori: thank you for reminding me i was saying goodbye to charlie. groupon prices down 80% since going public. the very latest as the board of groupon meet. and look at the winners and losers on the s&p 500. want to try to crack it? yeah, that's the way to do it! now we need a little bit more... [ male announcer ] at humana, we undrstand the value of quality time and personal attention. which is why we are proud to partner with health care professionals who understand the difference that qualy time with our members can make... that's a very nice cake! ohh! [ giggles ] [ male announcer ] humana thanks the physicians, nurses, hospitals, pharmacists and other health professionals who helped us achieve the highest average star rating among national medicare companies... nd become the first and only national medicare advantage company to achieve a 5-star rating for a medicare plan... your efforts result in the quality of care and service we're able to provide... which means better health outcomes... and more quality tim
yesterday that spending cuts should be part of these fiscal cliff talks. where it may break down on the part about whether the president will push democrats on capitol hill to go along. it was tuesday that dick durbin said spending cuts, medicare cuts, ets, should not be part of these fiscal cliff cuts. we'll see whether durbin and others on the hill go along with what jay carney is saying. we'll see if that improves the possibility of a deal. megyn: we have 33 democratic lawmakers saying we are not touching social security now or for the future. this jackhammer is really rude. >> reporter: the cuts are being made as we speak. it's hard to cut the government. megyn: alert frank, the two guys features in your first report. someone else came to the white house hat must have been an extraordinary moment. mitt romney and obama get together. for me it's awkward that they had the meeting at the white house. was that mean? shouldn't they have don't at a tgif. neutral ground? not to rub his nose in the place that he wanted to live. >> reporter: given romney's finances, -- he came here, he left witho
stand tall. if we go over the fiscal cliff, let's do it. no sense kicking the can down the line. lou: did you ever see that movie , dr. strange love and slim pickens? he gets on the bomb and they're dropping it over the soviet union. he hopped. toyota tell. anyway. we are sure union members would agree that raising middle-class taxes by $2,000 per year is not a perfect solution. also raising taxes on the top 2% covers just a little over eight days a federal government expenses, but that is okay. good news for new york city in the midst of all of this. not a single person was reported shot, stabbed or slashed. police officials said they cannot remember the last time that happened. the murder rate is been so low in new york city at the city is on track to record 00 murders this year. the fewest in half a century. a sharp contrast of the foreigners 62 murders so far in chicago. one-third the size of new york. the math is pretty straightforward. and the hits just keep coming for the environmental protection agency. temporarily banning the oil giant from bidding on new contracts with the
behind this. >>shepard: we will watch it. now the fight over the fiscal cliff at home. potential economic disaster that has come down to who blinks first, really. leaders in both policemen parties today accuse the other of not taking the situation seriously as tax hikes, rather, speakerration of the bush tax cuts will take effect. so taxes will go up unless someone does something. today, geithner met with the power players on the hill. the president says any deal has to raise taxes on families earning more than $250,000 a year. republicans say that is something they "could" be willing to consider but if and only if the president meets them halfway. house speaker boehner says they are not any closer to a deal publicly. >> all eyes or on the white house. the country doesn't need a victory lap but leadership. it is time for the president and congressional democrats to tell the american people what spending cuts they are willing to make. >>shepard: the democrats say any are open to spending cuts but no one has been specific. no one is specific. they say the republicans will not answer serious
much. >>> fiscal cliff negotiations spinning the markets up and down like a yo-yo. i'll get reaction next from real estate guru barry sternlicht. also, we'll discuss how he's putting his investment firm to work. wait until you hear what he has his sights set on. >>> and stick around for my exclusive interview with the chevron ceo. we'll talk about whether dividends are in the pipeline or a big acquisition on the horizon. >>> and is it time to kill the $1 billion? the case is being made today on why $1 coins make more sense. do they really? stick around for that heated debate comes up. you're watching "closing bell" on cnbc. we're back in a minute. at u.s. trust, our expertise extends well beyond investment advice and research analysis. it includes proprietary offerings like our eldercare program, which helps provide for those who came before you. and our financial empowerment program, which helps prepare those who come next. resources like these have made us the number-one trust company. that's why generations of families have come to us to help build their own legacies. [ male annou
that is dangerous because the fiscal cliff means a recession, nothing like the balanced plan that the administration plans to care about. an enormous tax increase to more wasteful stimulus, and as a boy from the notion that everyone should come to the table and compromise on behalf of the american people. >> this seems like stepping out the request. what do you make of this? opening negotiating gambit. >> i think it is disastrous for the american economy and says all the wrong signals to us signals to the market and international investors. also the demonstration of the sheer breathtaking arrogance of the obama presidency. this is a set of demands from an imperial white house. that simply is not open to any form of discussion at all according to these latest developments. this is a deeply worrying. the united states is on the edge of the economic abyss. the $16 trillion debt. so far there are no serious proposals whatsoever coming from the obama administration with regard to cutting this level of debt that the united states knows. america is heading for an economic catastrophe. it is a slow-moving s
on optimism around the idea that we could reach some sort of a deal to overt the fiscal cliff. the dow closing more than 100 points higher after being down by more than that during the session. a swing like that hasn't happened since october 2011. u.s. equity futures at this hour actually higher. up by about 65 for the dow, s&p more than 7, and as joe mentioned, the fiscal cliff is still the focus. today treasury secretary tim geithner will be meeting with congressional leaders. first harry reid at about 10:00 and then followed by a session with john boehner, eric cantor, paul ryan and chairman of the house's tax writing ways and means committee dave camp. also lunch with republican senate minority leader mitch mcconnell and nancy pelosi. yesterday a number of high profile corporate leaders met with president obama at the white house, including lloyd blankfein. >> both sides have acknowledge there had is revenue concessions and entitlement concessions. in fact if you listen to it, again, i'm not a master of the political art here, but i would say if you have these point of views in a business
point it will come down to either fiscal cliff or we're going to have to make a deal, are you willing to go over the fiscal cliff or not have changes to medicare and medicaid? >> every single poll i have seen says do not cut social security or medicare and do away with corporate loopholes and ask the wealthy to start paying their fair share of taxes and look at excessive military spending. and, by the way, let's not forget, we have already in the last three years cut approximately $1.5 trillion in programs. this is not a hard, this is not a fiscal debate. this is a political debate, ceos from wall street, big money interest are there to protect their interests. they could care less about working class people and some of us want to defend the middle class. >> if nothing is done by congress, by now and the end of december, everyone's taxes are going to go up. >> that's why we've got to do something and that's why the republicans have to do exactly what we did in the senate which is to say we have to protect the bottom 98% of the american people. no tax increases at all. continue the tax
'm concerned about the fiscal cliff. in the past two days, two very well-connected professional money managers have spoken to me about their trepidation their clients have about the expiration of the bush tax cuts and the cut backs on spending. money is worried, concernend many are selling as you've seen. to read the stories of the press on the fiscal cliff, well, you'd think change is on the horizon just 33 days away, well, it doesn't maer much. in fact, just sit back, relax. the fiscal cliff is not a big deal. i'll quote one here. it's unlikely all of these bad things happen or stay in effect for an extended period of time. pundits call if the fiscal cliff smoke that is, instead o a cliff, the rising support for junking the fiscal approach as confusing and renaming it the austerity crisis or bomb. that's it. according to the u.s. news and world report, give the cliff another name, and that would change the entire impact on its problems. the reality, though, is this. you'll pay higher taxes in all likelihood consider these numbers from the tax policy center. middle class earners, folks with a
's extend the fiscal cliff for six months and then get serious. nobody seems to want to do that. everybody wants at least a down payment, at least an agreement on the outlines of a tax program and a program on spending and then maybe they would give it more time to finish. >> we're still kicking the can down the road. you're absolutely right. you're going to get a short. term, let's get through the first quarter of 2013-type solution. but the reality of dealing with this economy, its debt, it's deficit, spending priorities and all of that is not going to get done in the next five weeks. so let's be honest about that. i agree with you. i think that they're going to come to a short-term stopgap solution that deals with the cliff, that deals with the bush tax cuts that expire, that deal with the increase in unemployment rate that's due to hit in january. they'll deal with those short-term things, but the long-term systemic substantive points that need to be addressed will not get addressed in the next four weeks. >> steve, how would you markets respond if they decide we'll have a short-term f
seng also gained about 1%. the improvingometer mitchell on the "fiscal cliff" gave wall street a boost, as well. the dow added 106 points after being down triple digits earlier in the day. while the nasdaq was up 23. >> could the dollar bill be going out of style? a congressional panel is once again calling for the u.s. to stop printing singles and switch entire to dollar coins. the nonpartisan panel believes the switch could save taxpayers money. it is more expensive to produce the coins but they last about 6 types longer than the paper bills. i don't know. it's going to make my bag heavier for sure. >> that's what i was thinking. my purse is already heavy. >> got four bucks? let me see it here. >> ashley, from time to time frank will go and make a starbucks run for us but i don't think he is going to do that anymore. >> not at this price. >> reporter: no. it's not going to get you this one. that's right. starbucks is selling a new brew that will set you back $7 for a grande sized cup. that would be a big cup. the coffee is made from a rare costa rica bean. if you want to brew one at
", it seems down right impossible. no, not winning powerball. congress getting its act together on the fiscal cliff but a deal may finally be in reach and senator john barrasso joins us with an update. that is coming up next. >>> plus a sixth straight day of protests against egypan president rsi. we'll tell you how his most powerful opponents are no planning to rein him in. more "money" coming up. ♪ you stl think you're colder than me? nah. don tell me. tell tiny! [ ice crackng ] [ knuckles cracking ] and who are you supposed to be, back-up? ndle it. what you looking at? ha! cat-like reflexes... whoa! [ male announcer ] the coors light silver bullet pint. it's bigger. it's resealable. it's still the colde. don't you do it. don't you do it! [ male announcer ] ost brewed coors light. the world's most refreshing beer! ♪ . melissa: and now, to the fiscal cliff. things seem to take a 180 as news out of the white house indicated progress, made. earlier senator orrin hatch said both sides were about dal billion away from a deal. that sounds like a lot. in washington that is nothing, going over t
with president obama and the democrats that we ought to climb down off this fiscal cliff in the next five minutes and pass what the senate passed, which is to renew all the bush tax cuts and go back for those over 250,000 to the rates of bill clinton. that's what we passed here. that will bring us almost a trillion dollars over ten years. that will get us to climb down that cliff. then we have got other parts of the cliff, there's no question about it, the automatic sequester. i think it's easy to deal with that by bringing home some of the overseas account money and applying it to the sequester and getting rid of at least half of that sequester, maybe all of the sequester. but no, you're going to listen to these speeches every day about how we're obsessed with taxes. what are you talking about, obsessed with taxes? i'll tell you what i'm obsessed about. i'm obsessed with the fact that we passed here a tax cut for 98% of the american people and our friends are so worried about the millionaires and the billionaires that they will not allow that bill to be voted on in the house. so people can stand
jobless claims which have some sandy issues involved or the fiscal cliff talks? >> definitely the fiscal cliff. what you were talking about yesterday, boehner's comments really turned things around for the markets, all this sense of optimism all of a sudden. we saw the markets go from down triple digits for the dow up to triple digits. we haven't seen a swing like that since over a year ago. it's been october of 2011 was the last time it happened. it's definitely the fiscal cliff driving things. we heard commentary from lloyd blankfein, between that and the lead story -- one of the top stories on the front page of the "wall street journal" suggesting the president is flexible on the tax hikes, that sounds like a deal might get done. you see a gain of 50 or 60 points. gdp up 2.7% from 2%. there was concerning things when you dig into the numbers, it's all fiscal cliff all the time here, chuck. >> oh, hopefully, as you guys say, it will all -- people will rise above, right, becky? >> that's right. >> i know. i see the button. up next, we're taking a deep dive into the u.s. relationship wit
priority should be jobs and growth instead of cutting spending. let us go over the fiscal cliff is necessary. keep sharing your thoughts with us on facebook and on twitter. one of the richest men in america is getting a free lunch at the white house. find out what mitt romney could bring to the table and the white house wants him to. we are right back. ♪ now, that's cardworthy. [ man ] all right. here we go. ♪ cardworthy. [ camera shutter clicks ] cardworthy. ♪ so not cardworthy. ♪ [ female announcer ] go to shutterfly.com for all your cardworthy moments and now get up to 40% off. >>> welcome back to "the ed show." kevin mccarthy has a movie night. he will be hosting a screening of the movie "lincoln" steven spielberg's portrayal of the republican party's most honored president. last year during the debt ceiling debate on capitol hill, mccarthy tried to rally republicans behind john boehner's plan with this clip from the town. >> i need your help. i can't tell you what it is. you can never ask me about it later. we are going to hurt some people. >> whose car are we going
need to have fundamental tax reform tied in to the fiscal cliff negotiations or we are never going to get anywhere on that front and that is dragging the economy down. i think taxes have to be higher. $400 billion out of medicare is about what gets cut every year anyway. medicare has been cut from the baseline every year in budgets for as long as i can remember. [talking over each other] connell: that the democrats would sign on to? what number could you get if you had $400 billion? >> something that addresses the fact that there are $40 trillion in unfunded medicare liabilities over the rest of this century. i am adding that up, $400 billion doesn't get it done. connell: have to remember these things are stretched over ten years. in one case it was 12 years and we thought was 10. steve murphy, thanks for coming on. dagen: the u.s. embassy meantime in egypt now closed amid protests in the country against president mohammad morsi. voting has started on the new constitution. kc mcfarland, formerly distance secretary of defense and fox news national security analyst, great to see you.
both hint that a deal to avoid the fiscal cliff is on the way. possibly in time for santa. i asked republican john cornyn whether he thinks that is a reality. >>> and governor romney sits down with the president since the election, actually since the debates. does this do either of them any good? rick santorum is out front. and julian assange is out front to answer critics and our questions tonight. let's go "out front." >>> good evening, everyone. i'm erin burnett, outfront tonight, an early christmas miracle. or at least the glimmer of one today. barack obama bringing glad ti tidings of great joy to avoid the fiscal cliff. >> i will go anywhere and do anything it takes to get this done. it's too important for washington to screw this up. >> and john boehner, not to be outdone, put a little early present under the tree too. >> i'm optimistic that we can continue to work together to avert this crisis and sooner rather than later. >> these are pretty glum faces to deliver those presents. no smile from either one of them. but investors didn't care, they're excited about the present,
and no fiscal cliff fights are going to stop him from a shopping blitz at washington's new costco super store. the veep came looking for pies and left with a television, books, fire logs, and a huge smile trailed by a horde of surprised shoppers. >> just walking through this store. get some guidance. >> you know, i have a feeling that the president may have missed his usual lunch partner at the midday meal today. joining us from washington is msnbc own historian the great chris matthews, the host of "hardball" and the author of quk jack kent, elusive hero," available now. highways t that's the advertising over. we learned the menu including white turkey chili and no humble pie after all. >> no dessert at all. i wondered about that double helping of poultry. what a strange meal. the turkey and then the chicken part. it's a strange meal. must have been dietary rules. i don't think that's a natural decision by the chef. strange meal. >> how do you think the meeting went though in truth? >> i think it's been screwed up because mr. romney, the governor, gave a wonderful concession speech, he came
there to think congress will be able to come to some sort of resolution. congress designed the fiscal cliff. i think probably senator thune from south dakota is making the most sense last night saying maybe we should kick the can down the road for six months instead of trying to rush it i'm not a fan of kicking the can down the road, that's what congress does. in this case, you have everyone scrambling, trying to examine the ramifications of the election. you have new people coming in. some of the people voting were thrown out of congress. why not wait until the 1st of the year. >> kicking the can, you look at markets today. you have global markets up. stock futures are up. the stock market was up yesterday because this whole idea of optimism from john boehner and the president that this could get done by the end of the year is something the world wants to see. you look at our polling. our polling shows, and the most recent poll from abc news/"washington post," 60% of people support raising tacks on incomes over $250,000 per year. isn't the argument of kicking the can down the road losing some
discussion of the fiscal cliff, given that is what lawmakers are talking about now. mitt romney just arrived here. we're not expecting anything huge to come out of this meeting. no appointment. for example, to the cabinet. but the president certainly, i think, hoping to engage in a serious conversation. this, as you point out, will be just the seventh time that these two have sat down after what was really a bruising fight during the election. this is really about sort of striking a tone of bipartisanship, helping these two former rivals to bury the hatchet but helping, i think the country to move forward, especially as we get closer to that fiscal cliff deadline. >> and ruth is here at the table. one of the issues could be the sort of backdrop the post-election comment by all sides not only mitt romney but also by stewart stevenson, op-ed his adviser. there was a time not long ago when the problems of the democratic party revolved arounding too liberal and dependent on minorities. obama turned those problems in advantages and rode that strategy to victory but he was a charismatic african-am
for an older, wiser, business leader. but first -- >>> still to come with the fiscal cliff getting closer -- >> if i were involved in a negotiation like this and everybody was purporting to be where they are, i would say that an agreement was reachable. >> we will help you rise above the rhetoric. former federal reserve vice chair alice rivlin, all that and much more on "squawk on the street." wooohooo....hahaahahaha! oh...there you go. wooohooo....hahaahahaha! i'm gonna stand up to her! no you're not. i know. you know ronny folks who save hundreds of dollars switching to geico sure are happy. how happy are they jimmy? happier than a witch in a broom factory. get happy. get geico. fifteen minutes could save you fifteen percent or more. serves as director of the national budget. recently served as a mechanical of the simpson bowles commission. you look lovely as always. i'm told you're wearing a rather important pin. >> yes, i have on the pin. i'm in favor of rising above all this part san ship and getting deal done. >> you think that's possible, but you're not sure what that can happen by
budget plan to be included in the fiscal cliff talks. >> hold up the budget and say democrats on capitol hill vote for including the spending cuts in this deal to avoid the fiscal cliff. that is not what they are doing now. should they include those? >> yes. i think that, and i know that democrats accept that this has to be it, a balanced package, that includes revenues and cuts and spending cuts. >> months ago, the budget carney held up was voted down by the entire senate. 99-0. meaning no democratic support. earlier, dick durbin insisted spending cuts from entitlement reform will not be part of the talks while pelosi spell noncommittal whether the cuts will be in the deal. still, the administration is trying to breathe life to the talks, with vice president biden shopping at new costco in washington, picking up a big screen tv and apple pie and insisting he is optimistic of a deal. >> i am. i am. all the folks in the store, man. going to make a difference. >> carney shot down a politico report that a phone call last night between boehner and the president was curt, noting it was 28 min
and growth instead of cutting spending. let us go over the fiscal cliff is necessary. keep sharing your thoughts with us on facebook and on twitter. one of the richest men in america is getting a free lunch at the white house. find out what mitt romney could bring to the table and the white house wants him to. we are right back. now with a fancy coating that gives you a burst of wildberry flavor. now why make a flavored heartburn pill? because this is america. and we don't just make things you want, we make things you didn't even know you wanted. like a spoon fork. spray cheese. and jeans made out of sweatpants. so grab yourself some new prilosec otc wildberry. [ male announcer ] one pill each morning. 24 hours. zero heartburn. satisfaction guaranteed or your money back. >>> welcome back to "the ed show." kevin mccarthy has a movie night. he will be hosting a screening of the movie "lincoln" steven spielberg's portrayal of the republican party's most honored president. last year during the debt ceiling debate on capitol hill, mccarthy tried to rally republicans behind john boehner's pla
bridge. so one bad thing we kick the can down the road. the other we go over the fiscal cliff but without any clear path forward or plan. in my view, a really bad plan is worse than no plan. at the end of the last congress, where i was here as a member of the lame duck, we were prevailed upon, persuaded to vote for a two-year extension of the bush tax cuts. the price of that was -- had we not done that, unemployment insurance. where millions of americans would have ended. in the days up to that vote, i got painful personal calls visits from friends neighbors people i know from delaware who are unemployed, long-term unemployed would have gone off of unemployment insurance. right now, we're facing three million americans going off unemployment insurance by january. for example, one of many sort of unspoken about potentially very negative consequences if all of the current law is enacted. now, there are many in the senate democratic caucus, this is part of what you were referring to who are saying we should go over th
the fiscal cliff? >> it comes to the white coats, the doctors. that's one thing to watch here. because the doctors, the money they get from medicare, that could go down almost 30%. the result, fitch says medicare recipients would have even lower access to doctors, hospitals, and the industry overall would also see a severe negative effect as money coming into the industry, that goes down. this is the number of medicare recipients they expect to thk by some 20 million in the next decade. >> and we heard from chris van hollen, he is against raising the age of eligibility. so lots still to be decided. but thanks for helping us with that. that will wrap up this hour of jansing and company. thomas roberts is up next. >>> good morning, everybody. the agenda next hour, mitt on the menu. mr. romney goes to washington for lunch. can president obama and mitt romney bury the hatchet for the good of the country? we'll head to the white house for a live report on the president's lunch date with his former presidential rival. plus president obama deploys his top man at the treasury to capitol hill f
in what's happened over the last couple weeks. but going over the fiscal cliff is serious business. and i'm here seriously trying to resolve it. and i would hope the white house would get serious as well. paul. [ inaudible question ] meeting with secretary geithner or your phone call with president obama last night. could you tell us something about that phone call? >> well, we had a very nice conversation last night. it was direct. and straight forward. but this assessment i give you today would be a product of both of those conversations. >> how much would you be open to the idea of discretionary spending cuts as part of a down payment to get to a longer-range solution on entitlements and tax reform? >> there are a lot of options on the table, including that one. >> mr. speaker, before the election, you were asked whether if it obama won taxes would have to go up. and you sounded like you opposed that. now you're acknowledging that they will. >> the day after the election, i came here and made it clear that republicans would put revenue on the table. as a way to begin to move the proces
after discouraging words from washington on the state of the fiscal cliff. this time it was house speaker boehner speaking with reporters after meeting with treasury secretary tim geithner. eamon javers is in washington with the latest. eamon, the sentiment down here is these guys should stop talking and start crafting a deal. >> reporter: that's the sentiment here in the hallways of capitol hill as well, sue. i can tell you that. we are starting to get a little more clarity on what's going on here today. i just had the chance just a few moments ago to button-hole senator harry reid here in the hallway, asking him a very specific question. i said did treasury secretary tim geithner come up here with a new specific offer for republicans? is that what he laid down on the table for speaker john boehner today? reid told me -- no, there was no specific offer here today from geithner to the republican side. he said that the president of the united states made the democrats' over two weeks ago and there's been no new specific offer since then. i think that explains a little bit of why we
of weeks. but going over the fiscal cliff is serious business, and i'm here seriously trying to resolve it and i would hope the white house would get serious as well. >> is this based on your meeting with secretary geithner or your phone call with president obama last night. could you tell us something about that phone call? >> well, we had a very nice conversation last night. it was direct. and straightforward. but this assessment i give you today would be a product of both of those conversations. >> how much would you be open to the idea of discretionary spending cuts as part of a down payment to get to a longer range solution on entitlements and tax reforms? >> there are a lot of options on the table including that one. >> before the election you were asked whether if obama won taxes would have to go up. i are acknowledging that they will. >> the day after the election i came here and made it clear that the republicans would put revenue on the table as a way to begin to move the process to get this resolved. >> my question is, what message do you have for people who look at the negot
, jeff. >> suarez: again, the major developments of the day: internet and cell phone service was down in syria, and there was fighting near the airport in damascus, as rebels battled government forces. democrats and republicans accused each other of refusing to talk specifics about how to avoid the fiscal cliff. house speaker john boehner said there's been no progress in the last two weeks. and the u.n. general assembly voted to recognize palestine as a non-member observer state. the u.s. was one of only nine states voting no. and, you've heard the term "glacial pace"? not exactly, says one director who's scaled enough ice, to know better. hari sreenivasan has more. >> sreenivasan: filmmaker james balog spent years documenting dramatic changes in arctic glaciers. i talked with him about his documentary "chasing ice." that's our science thursday feature. on art beat, digital touchups and tricks are common in photography today. we talk to a curator at the metropolitan museum of art about an exhibit that explores the history of photo manipulation before photoshop. plus, on making sense,
off and fall down. others have used the metaphor of a fiscal slope. on january 1, nothing happens, but people's paychecks will be reduced somewhat. government agencies will have to look at how to trim their budgets. they probably will be able to push of those cuts to later in the year. they can do things so it will not have a drastic impact. everyone expects that congress eventually will reach a deal. i hope it is not after january 1, but it could be. if it is, there is the expectation that eventually congress will wait until the very last minute and then finally reach a deal. with those expectations -- we will mention the amt -- there is an expectation that will be patched, as it is every year. host: to see congress and the president doing the so-called kick the can down the road act? guest: i do not think so. i think the president has been very firm that he is not going to just sign an extension of all the tax cuts, including for the top 2% of earners. he was -- there was no issue that he was more clear on. he thinks he has a mandate on that issue. on the republican side, there
not want to do. >> as we continue to move to solve the fiscal cliff problem, one thing we want to look at is make sure small business is ok. i had my first business when i was 19 years old -- a sandwich shop. listen to small businesses, look across there, they are the engine that makes the economy grow. today we will meet with individuals in the business community. next week, a small business coalition will talk to us on ways we can solve the fiscal cliff while the same time growing this economy. the goal of this republican majority is to solve the fiscal cliff once and for all and put us on a path to grow the economy. >> we are 34 days away from what would be the largest tax increase in american history, and the speaker boehner and the republicans have put forward a balanced plan that would prevent that from happening and not devastate our economy at a time when our economy continues to struggle and people are having a tough time finding work. we need to take action that will insure that small-business owners all across this country continue to be able to survive. many have said that
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